Industrial robotics market expected to exceed $40 billion by 2020

The global industrial robotics market is expected to exceed $40 billion by 2020, according to a new study by Grand View Research Inc., San Francisco. Increased demand from the automotive industry, coupled with growing labor costs, has encouraged industrial robots’ deployment in manufacturing. Increased emphasis on production quality to ensure survival in the competitive manufacturing sector is expected to drive the industrial robotics market. Growing measures pertaining to laborers’ safety have resulted in substitution of manual labor in industries by robots, thereby augmenting industrial robotics demand.

Automotive robots accounted for the highest market volume share in 2013 and are expected to dominate the market over the forecast period, owing to the opening up of avenues through new markets and technologies.

Asia Pacific was a key regional market in 2013, which can be primarily attributed to significant investments by automotive manufacturing companies in their pursuit of extending global influence. China, Japan, and Korea dominated industrial robotic installation in 2013, while India, Taiwan, and Singapore are expected to show high growth potential.

Modernization of factories, coupled with an increase in production capacities, has accelerated the pace of robot installations in North America. Substantial investments in robotics by the automotive industries in Europe resulted in several robots being installed, with Germany leading the number of installations.

To view the full report, visit www.grandviewresearch.com/industry-analysis/industrial-robotics-market.